Kleist Comments

CLOSING AGS 2/26/14
CLOSING AGS 2/26/14

Cattle: Cash cattle last week: $144.-145.00 and $230-231.00 dressed North. On 88 boxed loads cut outs up. $2.09(c) to up. $2.87(s) on moderate midday movement.

Comments: LATE: $152.00 NEBRASKA REPORTED.—NEW RECORD HIGH.

Hogs: Interior hogs NOT/EST.

Pork cut outs rose $.14 midday.

Comments: New highs April some profit taking in June, but no major reversal there. Some cattle/hog summer spreading evident.

GRAINS & OILSEEDS:

Corn: New swing highs backgrounded in part by beans but also 1 forecaster (maybe there’s more!) saying it will be cold the next 60 days ALONG with above normal precipitation to delay plantings.

Soybeans: New contract highs off ‘oversold’ U.S. stocks; on Brazil’s either rainfall fungus decreasing the crop or the drought decreasing the crop; and of course China buying yesterday.

Wheat: Not with the ‘bull program’ today and might have been a casualty of inter-market spreading. Regardless of cancelled export sales and regardless of seemingly ample world supplies. Hit hard late on apparent SCO orders.

Kleist Comments

This is John Kleist, of Kleist Ag Consulting.
Questions? Email me: johnwkleist@sbcglobal.net

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